Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
